The Mayor of London, Sadiq Khan, who was re-elected with a pledge to campaign for rent controls, has warned that the cost of renting privately in the city may potentially increase by almost 20 per cent unless he is given powers to control the rental market.

The forecast, based on analysis of information from Savills by City Hall, indicates rent prices in the capital city could rise within the next five years by an average of £370 to almost £2,300 per month if left unchecked, despite the cost of renting decreasing in some places in London during the pandemic.

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